I'm the last person on earth to say «live for today, don't bother saving», but the idea
of an emergency money pool of cash strikes me as a fallacy.
Not exact matches
There's nothing dumb about keeping a limited
pool of money in checking — enough for
emergencies, but not so much you lose out on important investments and savings.
While this won't help in paying off your debt right now, having a
pool of money at hand for
emergencies will help you in the future if you run into financial troubles.
An
emergency fund is basically a
pool of money you can borrow from when life happens.
To amass
money for a future house down payment while also accumulating a
pool of emergency money, try shoveling cash into a savings account or certificates
of deposit.
Some apps will encourage an
emergency fund, a special
pool of money that is not to be touched unless absolutely necessary.
Choosing an insurance plan with a cash value attached to it is a way to get the benefits
of having life insurance and a
pool of money that can be accessed in an
emergency or for other purposes.